Monday, February 26, 2024

Converge ICT says PH market big enough for 3 fiber broadband players

Fiber-optic broadband provider Converge ICT is optimistic that there is a lot of potential for the company as far expanding its fiber-optic business is concerned.

Converge ICT chief operating officer Jesus "Boboy" Romero
Converge ICT chief operating officer Jesus “Boboy” Romero

“We are bullish on the business. If you look at it, broadband has slow speed because it is primarily DSL (digital subscriber line). We think, especially with our pricing plan, that the market is still big even if there is PLDT and Globe,” Converge ICT chief operating officer Jesus Romero said in an interview on the sidelines of the launching of its newest offerings in Pasig City.

Romero said Converge ICT is pursuing its expansion in anticipation of growth of subscribers, especially in Metro Manila, adding that the company plans to triple its subscriber this year. At present, Converge ICT has 100,000 subscribers while the corporate users number around 2,800.

Since the company is still growing, Romero stressed it requires them lesser effort target to 40- to 50-percent growth. “Being a small company, it is easy to expand,” he said.

As part of their expansion plans, Romero said Converge ICT spent close to P1.5 billion last year in modernizing its IT platform and backbone network. Furthermore, Romero said the company hopes to complete the modernization program this year to prepare for its expansion program.

“We’re also looking for acquisitions whether is it is a telecom or a cable company. There are also on-going discussions on acquiring possibly medium-sized telecom company,? Romero said. ?Converge ICT is also open to partner with anybody.”

Romero said Converge ICT is also beefing up its fiber-optic network. At present, Converge already laid out more than 6,000 kilometers of its fiber-optic reach. It is already servicing clients from as far north as Baguio and further down south to Batangas.

In Metro Manila, Converge ICT’s pure fiber-optic offering has already covered cities such as Valenzuela and Las Pinas and Muntinlupa. It plans to further expand its reach by putting up networks in Nasugbu, Batangas and even far north such as San Fernando in La Union.

Eventually, fiber broadband offerings will soon be enjoyed nationwide, according to Converge ICT president and chief executive officer Dennis Anthony Uy.

Romero said the company is addressing the perennial problem of Filipinos in dealing with slow Internet connection through affordable and “best-of-breed” pure fiber-optic connectivity to power the Internet usage of home, micro, small-, medium- and large-scale enterprise users.

“With Converge fiber broadband products, whether you are at home or at the office or your place of business, your Internet experience will surely be made better. And the best part of it is that it costs the same as your DSL connection, but made faster,” Uy said in a press statement.


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